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20121120
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Search Results 0 to 33 of about 34 (some duplicates have been removed)
. igor, back to more serious stuff we ought to be talking about. so john boehner is saying hey we can have -- we can find some common ground here and republicans are quick to say yeah, let's follow the boehner thing. when you look at what boehner is saying about how to avoid the fiscal cliff he's not saying we're going to agree with president obama on anything yet right? >> not yet. at least publicly, he's just reheating the old romney proposal which is if you close deductions, that's where you get your revenue. not from letting the high end tax cuts expire. the high-end tax cuts expire. what obama had been campaigning on and what voters want overwhelmingly. so you know, the administration has actually been fairly optimistic about where boehner is and negotiating with boehner and negotiating maybe with some of the rank and file who are more likely to come to an agreement. maybe go into the senate. and doing this very publicly. they're meeting with a lot of groups with labor groups, with business groups and they've
of them voted democratic and half of them live in hollywood. >> reporter: but house speaker john boehner rejects any hike in tax rates. he would raise revenues by closing loopholes in the tax code. >> raising tax rates will slow down our ability to create the jobs that everyone says they want. >> reporter: failure to agree by the end of the year would trigger deep spending cuts and tax cuts. that could mean $2,000 more in taxes for the typical household. the jobless rate soaring to 9.1% by the end of the year. and possibly, another recession. boehner and the president were close to a deal last year. the so-called grand bargain, 4 trillion in debt reduction. many think that blueprint still works. >> and the real problem is, uncriminaled entitlement spending and a government that has grown massively. not just under this administration. >> reporter: experts warn of serious damage to the economy, if the standoff drags on. >> three or four weeks from now, they're making no progress at all, you're going to see the anxiety and the nervousness growing in the markets and the corporate board rooms
in hollywood? >> reporter: but john boehner would raise revenues by closing loopholes in the tax code. >> raising tax rates will slow down our ability to create the jobs that everyone says they want. >> failure to agree by the end of the year would trig aerocombination of deep spending cuts and expiring tax cuts. that could mean an estimated $2,000 more in taxes next year for the typical household. the jobless rate soaring to 9.1% by the end of year and possibly another recession. boehner and the president were close to a deal last year. the so called grand bargain, $4 trillion in debt reduction including politically sensitive changes to social security and medicare. many think that blueprint still works. >> and the real problem is uncontrolled entitlement spending and the government that has grown massively, not just under this administration, under republican administration. >> reporter: experts warn of serious damage to the economy if the standoff drags on. >> if three or four weeks from now they're making no progress at all, you're going to see the anxiety and the nervousness grow
's debt crisis. but speaker john boehner told house republicans that after last week's election the mandate from the american people is to work together even if it means additional revenues through tax reform. meanwhile bill kristol, editor of "the weekly standard," seemed to cave in on the president's demand that wealthy people pay more. >> you know what? it won't kill the country if we raise taxes a little bit on millionaires. it really won't, i don't think. really? t >> reporter: the president begins making his case this week. what's different this time is that administration officials are already suggesting to congress that mr. obama is willing to let the deadline pass, let tax rates go up, and spending be cut if he can't get the deal he wants. norah, charlie? >> wow. bill plante in washington, thank you. >>> later this morning we'll ask conservative activist grover norquist if republicans are backing away from his no tax increase pledge. >>> two weeks ago today superstorm sandy battered the northeast. more than 100,000 homes and businesses still have no power. most of them
boehner, basically had a deal in place, it ended up getting blown up at the last minute. i think there is a, perhaps, a new conciliation on both sides. i think they were waiting for the election to get over. i think the attitudes are positive on both sides. and i think they've got the framework for a deal already set up from last year. so i don't think that there are any closer but i also don't think they were that far away last year in 2011. >> do you think that closing the loopholes would be enough for a deficit reduction package? >> it doesn't appear that that's going to raise enough revenue to get to where the democrats want that to be. republicans say they don't want to raise rates. there are some -- there's some budget chicanery that can go on in terms of dealing with one baseline instead of another baseline. that's what it looked like boehner wanted to do last year. there are a lot of different options here. it's interesting, bill kristol from the weekly standard appeared to be talking to grover norquist, the anti-tax activist in those comments that he played earlier, talk
-brainer that even a john boehner or mitch mcconnell have to see they cannot survive politically and oppose that. >> eliot: one would hope so. this is one where you want the president to watch the days and watch and say i'm not moving. this is your fault. >> bill: right. then here's the latest wrinkle. i'm sure you saw yesterday some democrats now say that they're buying the mitt romney plan, if you will, of let's not raise tax rates. let's just close loopholes. right. can you get there -- two-fold question eliot. i hate to put you on the spot. one is what's wrong with raising tax rates and two can you get there just by closing loopholes? >> eliot: nothing and no. nothing wrong with raising the rates on the top folks including me including the president including -- >> bill: and me. >> eliot: this is what this campaign was about. the president spoke to it eloquently. bill clinton. every economic study. i wrote my editorial on my show the other night the congressional research service just came out with a study saying ther
. boehner and the president were close to a deal last year. the so called grand bargain, $4 trillion in debt reduction, including politically sensitive changes to social security and medicare. many think that blueprint still works. >> and the real problem is uncontrolled entitlement spending and a government that has grown massively, not just under this administration, under republican administration. >> reporter: experts warn of serious damage to the economy if the standoff drags on. >> if three or four weeks from now they're making no progress at all, you'll see the anxiety and nervousness growing in the markets and corporate boardrooms. it's going to be a rough for months. >>> two weeks after the destruction from hurricane sandy, victims are still trying to put their lives back together. more than 100,000 homes and businesses in new york and new jersey are without electricity as they struggle to rebuild. a 77-year-old man has died of injuries from a fall as sandy hit new york, bringing the city's death toll to 43. janet napolitano visited with disaster relief workers in new york, reaffirm
. he and house speaker john boehner were close to a deal last year and people chose his way last week tuesday weigh found out that the majority of people agree with my approach. democrats, independence and some republicans. now we need a majority in congress to listen. >> mitch mcconnell didn't give mr. obama a mandate. they just gave him more time' and speaker boehner still objects to higher tax rates, shepard. >> shepard: republicans here and there are changing their tunes on a lot of things. bill kristol the conservative commentator is one of them, he says raise taxes on the millionaires it won't kill us that shook the g.o.p. establishment. he supports the president's own deficit reduction commission taxes and spending cuts which mr. obama himself turned down. crystal's comments came on "fox news sunday." >> you know what? it won't kill the country if we raise taxes a little bit on millionaires. it really won't. i don't understand why republicans don't take obama's offers to freeze taxes on everybody below 250,000. >> since polls indicate most people favor phasing out he upper inco
of the tax plan, john boehner are urging them to make compromise, something president obama senior adviser david axelrod called encouraging. >> there's money tbe gained by closing some of these loopholes and applying them to deficit reductions. >> one half of those automatic spending cuts would affect the defense department's budget. david martin shows us what that means for the military. >> reporter: the dreaded sequestration would double the $500 billion in cuts the pentagon is already planning to make over the next decade. defense secretary panetta has not minced words. >> if sequestration goes into effect it's a disaster for national defense. >> reporter: the strategy of pivoting away from the wars in iraq and afghanistan towards the pacific and an emerging chinese superpower would come undone. >> all of that can go to hell if this congress doesn't face up and deal with the issue of sequestration. >> reporter: in this letter to senators panetta warned by the time sequestration was over the u.s. would have the smallest ground force since 1940, smallest navy since 1915 and smallest air f
issue that's facing us. john boehner and mitch mcconnel said we want to compromise. don't want the american people to deal with what could be ahead. what is going on? we all think their backdoor meetings that get done. is that not the case? >> they are having those kind of meetings. they are going to have a meeting later on today with the members of congress with leadership. look, it's very clear we need to look something serious. send the message to the markets and the american people. this election pretty much laid out what the american people want. 80% of the american people want to compromise. both parties to work together. i don't know what it will take for these guys to wake up and realize that. we have to stop this negotiating i'm not going to do this. the only thing we know for sure is rates are going up for the wealthy. elections matter. he did win. >> i think what you have is a lot of posturing going on and it's posturing that takes you toward the negotiations that will take place. i would disagree with my friend marty that the rates have to go up. i think there's a
from john boehner and -- >> yeah, from boehner i am. the president has now painted himself -- painted those guys in to -- how many times has he drawn a line in the sand about that high right on 250. he's made a point and he can't possibly go back on that now, can he? >> i think he can. look, i think he's drawing a line on getting money from those people, there people making 250 and above. but he hasn't drawn a line on how he gets that money. he's said at his news conference i'm skeptical that you can do enough in loopholes and exclusions to get the money that we need for a deal from that group. but he also said i'm open to new ideas. so if there is in fact an effort to close some loopholes that gets you some of the way there, you can certainly see the president, i could anyway, compromising somewhere between 35 and 39.6 on a slightly higher rate. if shall be caomebody came up w source of revenue which didn't change the distribution of the tax burden, figure out a way to do it without a top rate. i kind of expect what's going to happen is loophole closing and you end up at like 37 ors
-door meeting, house speaker john boehner said, quote, i believe we can do this. nancy pelosi said we understand our responsibility. if they fail to act, the bush tax cuts would end on january 1. that's the same day sharp cuts to government spending take effect. economists fear the combination could send the country back into a recession. a train that slammed into a parade float, carrying wounded veterans was moving slower that the posted speed limit. safety officials in texas say it was going 62 in a 70-mile-per-hour zone and the train applied its emergency brakes before crashing into the trailer. the accident killed four veterans and injured 16 other people. i'm marianne rafferty. now back to "on the record." >> greta: harry reid telling senate republican leaders, no, rejecting a request for a watergate-style select committee to investigate the benghazi attack. earlier, john mccain led the charge for a special committee. but in a letter tonight, senator reid saying there are plenty of committees investigating benghazi and he took aim at senator mccain, saying he missed one of those committee m
on your jobs, not ours. >> reporter: the president and house speaker john boehner each are drawing a line in the sand over letting the bush era tax cuts expire for americans making more than $250,000 a year. >> instead of raising tax rates on the american people and accepting the damage it will do to our economy, let's start to actually solve the problem. >> reporter: the speaker wants a tax overhaul that raises money by cutting loopholes. if they can't hammer out a spending deal by year's end, the nation goes over the so-called fiscal cliff. taxes go up for everyone. an average of almost $3,500 per household. and there will be deep automatic spending cuts in both domestic spending that could hobble the economy. they want the president to address the real problem. >> and the real problem is uncontrolled entitlement spending, and the government that has grown massively. >> reporter: democrats say republicans are going to have to compromise. just like the president and his party did after getting walloped in the 2010 elections. >> we cut $900 billion in spending that we didn't like, painful
both parties have to talk to each other. >> reporter: diane sawyer asked speaker boehner if you are now the de facto leader of the republican party. and his answer was, oh, i wouldn't think so. paul ryan is a policy wonk. >> i take that as a great compliment from john. >> reporter: is that your role in the republican party, the house policy wonk? >> i have also been one of the house policy wonks. my role is to continue to be a champion of ideas. to help our party be the reform party. that shows how we get economic growth. >> reporter: i asked ryan about speculation that he would be an early front-runner for the republican presidential nomination in 2016. he told me it is way too early to even think about the next presidential race. jonathan karl, abc news, washington. >> he also said another reason his team lost the turnout in urban areas in the country was so high. they also lost in states with few minorities and rural areas, iowa, new hampshire. if you look at a lot of the president's poll numbers, there was more at play than folks of color coming out in support. one important part of
the looming budget crisis in washington. house speaker john boehner says republicans want to cooperate but not by raising taxes. >> here we go again. president obama addressed the crisis rather and other challenges he faces in his first post-victory news conference. abc's karen travers is joining us from washington with more. hi, karen. >> reporter: good morning, rob. good morning, paula. white house officials say they were expecting the president to get tough questions and yesterday he got them on a wide range of issues. in his first press conference in eight months, president obama said the american people knew what they were getting when they re-elected him. and his takeaway from last week's results -- >> i have got a mandate to help middle-class families. >> reporter: the fiscal cliff and mandatory spending cuts and tax increases is looming at the end of the year. >> i want a big deal. i want a comprehensive deal. >> reporter: the preside reiterated he is not backing down from the campaign pledge. >> a modest tax increase on the wealthy is not going to break their backs. they'll st
to every debail of his plan. house speaker, john boehner, wants to keep all the bush tax cuts in place. he's starting to talk about closing up tax loopholes. conservative pundit and weekly standard editor bill kristol said it's time for republicans to come so some sort of compromise. >> conservative movement has to pull back, let people float new ideas, let's have a serious debate. don't scream and yell when one person says it won't kill the country if we raise taxes a little bit on millionaires. it really won't, i don't think. i don't understand why republicans don't take obama's offer? >> cnn's senior congressional correspondent dana bash is live for us in washington, d.c. what do you make of his comments? >> soledad, look, bill kristol is not an elected official. he doesn't get a vote. but he is a very influential gop voice here in washington. and around the country. and for him to tell republicans it wouldn't kill to them to agree to tax increases for millionaires. it's a big deal. and we heard some similar talk from republicans who do have a vote like senator bob corker. listen to thi
to make john boehner's life easier. you know, if ever--you know, you keep seeing this clip of george bush talking about all the political capital he has gained, right? this is the second electoral landslides. >> caller: the first thing that george bush did with that political capital was to privatize social security. that was the beginning of the end. that's when his second term got broken along before all the bad stuff happened. >> stephanie: you talk about this a lot, too, what happens on the sunday shows. >> caller: i took this week off by the way. >> stephanie: i don't know if you saw this, but this is what drives you and i crazy not just about the democratic party but mainstream media. this is the question that was asked of schumer. >> would you like to see the president bring him in for the negotiations over the fiscal cliff. >> caller: shoot me now. >> stephanie: really? >> caller: why? >> stephanie: really the guy that just lost by a landslide. >> caller: first of all, if you were hiring the guy why would you hire the guy? why would you bring aboard the guy whose economic plan was
at the white house. president obama wished house speaker john boehner a happy birthday. the president said he didn't know how many candles they would need for speaker boehner's birthday. he gave him an expensive bottle of wine instead. the speaker turned 63 years old today. >> a new york businessman said tampa, florida, socialite jill kelley asked him for an $80 million deal. those are some of the stories trending as we speak on cnn.com. >> an astronaut battles parkinson's disease while flying through space. we'll show you why he kept his condition a secret and how he's doing 17 years later. [ male announcer ] when a major hospital wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. [ yawning sound ] at meineke i have options... like oil changes starting at $19.95. my money. my choice. my meineke. my money. my choice. when i take a picture of this check, it goes straight to
. >> time to get the job done. >> speaker boehner told republican members they would have to avoid nasty fights and according to "the new york times" they seemed to listen. the word don't change a basic disagreement that could push the country off the fiscal cliff, the first of january. when a number of tax cuts expire, meaning the average family will pay $3,700 a year. and severe cuts to defense and government spending will be triggered. the sticking point on avoiding the cliff, taxes. the president campaigned on and won, on letting tax cuts for the rich expire. a leading republican said no. >> no republican will vote for higher tax rates. we will generate revenue from eliminating deductions and loopholes. >> reporter: if that sound like the argument we heard. you are right. democrats appear emboldened that rates for the rich rise. are we headed for the cliff? >> if the republicans will not agree with that, we will reach a pin the at the end of this year, where all of the tax cuts expire, and we'll start over next year. >> reporter: friday, congressional leaders come here to the was to
says he wants to see higher tax rates. john vitter says axel in not. >> -- john boehner says clearly not. >> it is a lot easier to say at this level of generality. it becomes harder to enacted. the number of times of with the head of the cbo, senator so and so would call me up and say i want to talk about tax reform and i would walk in and the head is one talking point which is brought in the base and lower the rate. what are you willing to scale back? mortgage interest, cannot touch that. charitable, cannot touch that. you go down the list. one of the reasons of these new ideas being attractive is a are obscuring what has to be cut back. >> there is still a hard choice there. >> we are not saying we are going to cut out your ability to deduct your mortgage but i will get to keep my ability to deduct my local tax. everything goes into a pot. everybody gets to keep their deductions but you cannot be too greedy about it. it does have to limit the amount they can benefit from it. >> that is the selling point. >> the notion here, can you do this and have the only effect of the wealthiest
for governor romney, i worked for john boehner. i called up our didge cal -- digital guy and said tell me about twitter and he said you don't need to know that. that is not going to take off. so much of what we did was driven from the bottom up through twitter. even when toivens plane, we would go -- even when i was on the plane, jen was on a much bigger plane called air force 1. i was on hairforce 1. by the time i came back to the front of the plane i would see on twitter i already made news. >> when you say people, you don't mean people. you mean reporters. >> or people. [laughter] >>that was on the -- free to be you and me c.d. reporters are people. but this was kind of backstage conversation you were watching play out on twitter. sometimes real people. it was more important for you how the journalists were using twitter. >> it became an incredible newsing a gator. you could see now like t.p.m. more left leaning. see what they are saying. see what folks on the right are saying. folks in the middle are supposed to be saying. what the outside groups are saying and you sort of got a good snapsh
can tell you that the guys in the house and boehner, they really want to do this, this limiting deductions, limiting loopholes, raising effective rates, but lowering nominal rates. they want to do it that way but the president may say no and those guys in the house will say no and we might, it might happen. >> it might, but look, this is a leadership moment. we have a a leader who now has second term. he's a president. he's a fascinating individual in many respects. he's part of the problem. >> what gives you any indication he'll lead in this case? >> maybe he'll wake up to the fact that he has a chance to cut through the polarization and leave a winning legacy. this is his chance to rise above. give him a button. >> there you go. thank you for that, steve. we have more ahead from steve. coming up, we're going to talk about several stocks on the move ahead of the opening bell. we'll get down to "mad money's" jim cramer. "squawk on the street," jim cramer right after this. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker
is listening to their suggestions. up to this point house speaker john boehner is saying he will not accept any increases on tax rates. but some top republicans are quietly coming around. it is obvious after the election that republicans do not hold the mandate on taxes. while the g.o.p. still might not agree to a tax rate on those making more than $250,000 a year, if democrats demand a millionaire tax increase, it will be hard for republicans to say no. climate change actvilles are not feeling too optimistic after the president's news conference yesterday. advocates had been hoping the president would push for a carbon tax as a way to help raise revenue during talks on the fiscal cliff. while the president did say he is a official believe err -- firm believer in climate change and will take up the issue in the future. for now it will take a backseat to the economy. this is also an issue both parties avoided during the presidential campaign and even during energy talks, there was no mention of climate change
Search Results 0 to 33 of about 34 (some duplicates have been removed)